The same thing would still happen though.
The same thing would still happen though. When it turns out that the MtGox stellar gateway can't actually make good on any of its IOU's, the MtGox!USD and MtGox!BTC will immediately become worthless and any one who hoarded them will feel the pain. The biggest problem with MtGox was that an untrustworthy entity was trusted with too many (much?) assets. We had a hunch about the amount of assets, but no one an exact amount, that's the first thing Stellar would solve, if I understand correctly Stellar would reveal MtGox's total outstanding assets. A bank would always have a large outstanding total though, it's their main value. Perhaps Stellar would make visualising and understanding debt of banks easier so it would also be easier for authorities to check on them. Who knows, perhaps there's banks today with much less credit than they debit. With all the digital transactions going on, we're trusting banks with way too much.
Posted by tinco on Aug 5, 2014, 10:47 PM
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Raise real-world problems, find people facing the same issue, and discuss solutions.9,000 issues0 comments
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It can be a nightmare to sell a chunk of your business to outside investors.
Congrats on the move to Google!
The federal government hasn't even lifted a finger to control undergrad education costs.
Nice to see someone addressing this annoying problem, I'm seeing first hand bot traffic go up as they are just gobbling up data.
Why is there no standardized e-ID in the US?
There's an unmet need in social networks for "identity verified and protected", wherein the social network proves to a reasonable^ degree...
The reason to create a new category is because the current categories don't solve the problem for a specific target audience.
Unfortunately in the enterprise, the purchasing decision maker is usually not the user, and may not even use the invoice screen before de...
The same thing would still happen though.
The same thing would still happen though. When it turns out that the MtGox stellar gateway can't actually make good on any of its IOU's, the MtGox!USD and MtGox!BTC will immediately become worthless and any one who hoarded them will feel the pain. The biggest problem with MtGox was that an untrustworthy entity was trusted with too many (much?) assets. We had a hunch about the amount of assets, but no one an exact amount, that's the first thing Stellar would solve, if I understand correctly Stellar would reveal MtGox's total outstanding assets. A bank would always have a large outstanding total though, it's their main value. Perhaps Stellar would make visualising and understanding debt of banks easier so it would also be easier for authorities to check on them. Who knows, perhaps there's banks today with much less credit than they debit. With all the digital transactions going on, we're trusting banks with way too much.
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